More, Faster, Better: U.K. Bank Regulator's Misconduct Crackdown
- Financial Conduct Authority to broaden probes into misconduct
- FCA able to do probes 20% faster, enforcement head says
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The regulator in charge of policing misconduct at banks in the U.K. is piling pressure on himself by promising to detect wrongdoing quicker and broaden the type of the investigations pursued by his team.
Focusing on particular areas can make it easier for other crimes to go unnoticed, said the Financial Conduct Authority’s director of enforcement and market oversight, Mark Steward. More efficient management has enabled the FCA to deal with investigations 20 percent more quickly in the past year, Steward said.